PIAF Welcomes New Package for Construction Sector

Islamabad, July 13 (Online Int’l): The Pakistan Industrial and Traders Associations Front has welcomed the new incentive package for the construction industry, with an allocation of Rs.30 billion subsidy for the Naya Pakistan Housing Project and urges the government to announce the same relief to other industrial sectors as well with a view to promote economic activity and generate new employment in the post-corona slowdown economy.

PIAF chairman Mian Nauman Kabir, in a joint statement with senior vice chairman Nasir Hameed and vice chairman Javed Siddiqi, termed the package announced by the PM for construction sector as historic, saying it would prove a turning point for the economy, besides providing financial flexibility to the low income people for building their own houses.

Mian Nauman Kabir said that the government has already declared the sector as an industry as it had a huge demand of up to 70 associated industries. He added that the move would have a positive impact on the country’s economic health and also enhance economic growth, besides facilitating the daily wagers. He said the construction industry is the second largest sector in the country which provides employment to the people.

Mian Nauman Kabir said that the PIAF appreciates the PM for creating a balance between maintaining a lockdown and keeping the construction sector running to save people from hunger and poverty. He also appreciated the allocation of huge funds by the SBP for those who have lost their jobs or facing income issues during the coronavirus crisis, urging the government to formulate a mechanism to ensure that funds are provided to the most deserving segments of the society.

Hailing the special package for construction industry, the PIAF leader, who is also the former interim provincial minister as well as the ex-LCCI Senior vice president, said that the sector plays an important part in development of a country.

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